Advanced Drainage Systems, Inc. is a leading manufacturer of thermoplastic corrugated pipe and related water management products. Headquartered in Hilliard, Ohio, the company provides stormwater and onsite wastewater solutions for commercial, residential, infrastructure, and agricultural applications. It is notable for being the largest maker of high-density polyethylene pipe in the United States and heavily utilizing recycled plastics in its manufacturing processes.
The Company has a large, active customer base of approximately 16,000 customers, with two customers, Ferguson and Core & Main, each representing more than 10% of annual net sales; in aggregate these two customers accounted for 25.8%, 27.0%, and 25.8% of fiscal 2026, 2025, and 2024 net sales, respectively. The Company's ten largest customers generated approximately 50% of net sales in fiscal 2026.